anonymous
  • anonymous
What would be the formula for "Find the average daily balance, including new purchases."? (there is a picture for this question and I'd include it but, I don't know how yet)
Mathematics
katieb
  • katieb
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

jim_thompson5910
  • jim_thompson5910
You can attach files by clicking "attach file" under the text box
jim_thompson5910
  • jim_thompson5910
Or you can host the pic on a site like imgur or something, then give the link
anonymous
  • anonymous
(took me a second to see what you were talking about, I literally just joined the site) thanks!
1 Attachment

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
I'm just not sure which numbers to add and which ones to subtract...
jim_thompson5910
  • jim_thompson5910
ok so what the average daily balance does is find the balance for the whole month, as if it were a snapshot. The balance changes quite a bit, but the credit card company only charges interest on one figure: the average daily balance
anonymous
  • anonymous
ok
jim_thompson5910
  • jim_thompson5910
what we do is multiply the number of days with the balance for that time period eg: 675*5 = 3,375 1085*1 = 1085 1085*9 = 9,765 etc etc
jim_thompson5910
  • jim_thompson5910
then you add all of those products up and then divide by 31 (the total number of days in the month)
anonymous
  • anonymous
ok, thank you!!!! :)
jim_thompson5910
  • jim_thompson5910
tell me what you get
anonymous
  • anonymous
$541.45?
jim_thompson5910
  • jim_thompson5910
I'm getting the same
anonymous
  • anonymous
thank you thank you thank you!! :D
jim_thompson5910
  • jim_thompson5910
so this is the balance that the CC company will use to figure out the finance (ie interest) charge
jim_thompson5910
  • jim_thompson5910
you're welcome

Looking for something else?

Not the answer you are looking for? Search for more explanations.